5-Unit Apartment Complex in Grants Pass 303 SW I St 5 Unit Apartment Building $485,000 ($97,000/Unit) Grants Pass, OR 97526

Merit Commercial Real Estate, is pleased to exclusively present for sale 303 SW I Street, a 5-unit apartment complex located in Grants Pass, Oregon (the "Subject").
Priced below $100k/unit, the Subject presents a strong opportunity for an entrepreneurial investor to jump into a well-located project in a growing sub-market.
Located in a peaceful residential neighborhood just blocks to downtown Grants Pass, the Subject enjoys the mature, tree-lined streets of SW I & 4th Street and is a short distance to Grants Pass High School, multiple parks, employers, retail, and much more, and has seen rapid development of high-quality commercial and multifamily ground-up builds in the recent years.
Originally built in the early 1900s (buyer to confirm) as a palatial single-family home, the Subject has been thoughtfully converted to house multiple units.
While the Subject Property's units are 1-bed / 1-bath (and 1 studio), most units enjoy generally spacious and efficient layouts, with abundant common area including the oversized covered front porch.
The opportunity is clear to revive the potential of the Subject Property. Unlocking the full potential of the building is possible by renovating units, re-opening the currently closed on-site laundry facility, and embracing the original character and charm of the building.
Currently 100% leased, the Subject provides income either as a long-term hold or to help cover holding costs during a renovation project.
Current ownership would prefer to utilize seller financing - an option that could make the difference in today's market (see financing terms in the offering summary to the right). Prospective buyers are encouraged to submit proposals with seller financing options, all of which will considered by the owner. Contact the brokers today for more info.
Buyers are solely responsible to complete all due diligence regarding the Subject Property to their own satisfaction. This Report should not replace a Buyer's independent investigation of the Subject Property.